Private Trust Co. NA Has $6.60 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Mar 28th, 2023

Private Trust Co. NA lowered its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 0.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 74,770 shares of the information services provider’s stock after selling 699 shares during the quarter. Alphabet makes up approximately 1.0% of Private Trust Co. NA’s investment portfolio, making the stock its 11th largest position. Private Trust Co. NA’s holdings in Alphabet were worth $6,597,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. DC Investments Management LLC acquired a new stake in shares of Alphabet in the first quarter valued at about $114,000. Bridgefront Capital LLC acquired a new position in Alphabet during the first quarter worth approximately $225,000. Worth Asset Management LLC acquired a new position in Alphabet during the first quarter worth approximately $206,000. Eudaimonia Advisors LLC increased its position in Alphabet by 15.1% during the first quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock worth $275,000 after buying an additional 13 shares during the last quarter. Finally, Aspire Capital Advisors LLC acquired a new position in Alphabet during the first quarter worth approximately $281,000. Institutional investors and hedge funds own 34.06% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of recent analyst reports. Stifel Nicolaus initiated coverage on Alphabet in a research report on Monday, March 20th. They set a “buy” rating and a $130.00 price target on the stock. New Street Research initiated coverage on Alphabet in a research report on Wednesday, January 4th. They set a “buy” rating and a $118.00 price target on the stock. Evercore ISI lowered their price target on Alphabet from $130.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 21st. KeyCorp lowered their price target on Alphabet from $118.00 to $117.00 and set an “overweight” rating on the stock in a research report on Monday, January 30th. Finally, Roth Capital restated a “buy” rating on shares of Alphabet in a report on Friday, February 3rd. Four equities research analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $131.83.

Insider Transactions at Alphabet

In other news, SVP Prabhakar Raghavan sold 22,203 shares of the company’s stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the completion of the transaction, the senior vice president now directly owns 76,579 shares in the company, valued at $6,872,965.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the stock in a transaction dated Monday, March 13th. The stock was bought at an average cost of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the acquisition, the insider now owns 1,709,527 shares of the company’s stock, valued at $50,072,045.83. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Prabhakar Raghavan sold 22,203 shares of the company’s stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the transaction, the senior vice president now owns 76,579 shares of the company’s stock, valued at $6,872,965.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,865 shares of company stock worth $7,140,167. Corporate insiders own 11.44% of the company’s stock.

Alphabet Stock Down 2.8 %

NASDAQ GOOGL opened at $102.46 on Tuesday. The business has a fifty day moving average price of $96.67 and a two-hundred day moving average price of $95.90. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 2.34. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $143.79. The stock has a market capitalization of $1.31 trillion, a PE ratio of 22.51, a PEG ratio of 1.46 and a beta of 1.09.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.09). Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The business had revenue of $76.05 billion for the quarter, compared to the consensus estimate of $63.15 billion. During the same quarter in the previous year, the company earned $1.53 earnings per share. Equities analysts expect that Alphabet Inc. will post 5.12 earnings per share for the current fiscal year.

About Alphabet

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.